DigitalOcean to Buy Managed Cloud Hosting Platform Cloudways for $350 Million

DigitalOcean one of the Top cloud service providers has agreed to acquire the leading Managed Cloud Hosting SaaS Platform Cloudways.

Cloudways was started ten years ago by Aaqib Gadit and his team with the mission of improve SMBs. One must say that Cloudways has helped more than 70000+ customers worldwide powering over 570000+ websites, Also Cloudways has a global team of 280+ employees.

Digitalocean popular cloud provider for developers, startups, and SMBs. Since 2014 Both Cloudways and DigitalOcean have been close partners, more than 50% of Cloudways customers rely on DigitalOcean infrastructure. Combining DigitalOcean and Cloudways will host over 124000 customers whose minimum plan is over $50 per month.

As per Aaqib Gadit, Co-founder and CEO of Cloudways “For now, Cloudways will remain a standalone business unit and continue to operate as usual under my lead, where we’ll continue to help agencies, developers, and SMBs as we have always done. Current Cloudways customers will see no changes to their services.

The deal is expected to close in September, according to terms DigitalOcean will acquire Cloudways for $350 million in cash, a significant portion of which will be paid over a 30-months.

Check out the Official Statement from Cloudways & DigitalOcean.

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Dave

As a full-time businessman and part time journalist, Dave heads at the post of editor at Crisp Live. He covers all the significant proceedings in the world of business and headlines from the US. He also takes care of the editing part of all the news pieces posted over the website to ensure everything aligns with the journalistic format.

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